Planning for Profits
You want to look at several options: You have to cultivate the right mindset for success. Profits do not just happen – no matter how much you want to believe in the sales copy hype of passive, automated income that appears in the middle of the night while you sleep.
They are a signal of success that you reach once you make bona fide plans to reach certain milestones. If you look around at the people (maybe even yourself) who are floundering, you might notice they are in a frenzied state of panic.
The mortgage is due. They are getting tired of trying and failing. So, what happens is, they try everything – fast. They slap content up, never think through strategies, and when they fail, they blame the system or the sellers – but never themselves.
It is time to give up your excuses and get down to developing a streamlined planning process for your online profit generation. There are five easy ways to fix this issue so that profits are planned, not hit or miss.
First, choose a niche with sustainability. Many marketers will clue you in about some hot, trendy niche you want to jump on right now! If you notice, those emails usually promote something that will generate cash for them.
So, of course, they are going to recommend the niche. But you want something that you can work with long-term. That means that not only is the market going to support this niche topic for the long haul, but you will feel excited about working in it day in, day out for months and years to come.
Feeling Passionate about your Niche
Ask yourself, “Do I really see myself waking up and feeling excited about writing about this subject every day?” There might be a wonderful market for senior incontinence, with an abundance of keyword searches, and plenty of product to promote – but if you are a 30-year-old male marketer, you end up dreading the decision to get into that niche if it does not affect your life personally.
Think about how happy the niche will make you. If it is a horribly depressing topic, like abuse or depression itself, it might make you approach each day with trepidation. Or you could be the type of person who will get great satisfaction out of leading others to a better life!
Spend some time before you set up a business, looking at all the possible niche opportunities. Do you want digital-only, tangible only, or a mix of the two? Look at digital platforms and even print bookstores to see if any topics jump out at you.
Research it to see how comfortable you feel educating yourself about the topic to pass the information along to your audience. Would you be able to write extensively about it? Make videos? You never want to get into a niche based on profit potential only.
Next, you want to develop a monetization plan for your profits. You do not just hear about a niche, slap up a $7 report and expect that to build a business. Sadly, this is what most newbies do.
Instead, carve out an entire plan for the profits. What is all the potential there? Let us take the weight loss niche because that is broad enough and familiar enough for everyone to relate to.
Digital Content Sales
For your own product development, you want to ask yourself if you feel good about writing about this topic. Even if you educate yourself first, is it easy enough to write about?
If it is something like Forex, would you understand the ins and outs of conveying information? Weight loss might be easy, but some topics (financial and detailed medical) might be more difficult.
Is there PLR (private label rights) readily available for this niche? Many marketers get into a niche, realize they need help content-wise (on a small budget) and get frustrated to learn that there is not much PLR available on the topic.
If you choose something like electroplating, then understand that not only are you going to not find PLR on it all the time, but you will find it exceedingly difficult to unearth a ghost-writer with the ability to write about the subject matter with ease, too.
Look at how the sales of the topic are going. Are they the bestselling topics? Or scarce? You want something abundant in conversions – do not worry about saturation – there is room for everyone since consumers love to buy multiple products about a topic.
Look at yourself – chances are, this is not the only “online success” book you have ever read, right? No – you look at various sources, pick whatever tips you enjoy from it, and leave the rest while moving on to another resource.
One of the worst pieces of advice marketers ever passed on to other entrepreneurs is to avoid “saturated” niches. Maybe they did not want any more competition, but all you need to know is the more, the merrier – it means ample affiliate opportunities for you!
Digital Affiliate Commissions
Speaking of affiliate cash, this is another factor you need to plan for. Do not pick a niche where you are out there solo. You want and need fellow entrepreneurs to develop digital products that you can promote.
Affiliate earnings count for a large portion of an online entrepreneur’s income. What kinds of commissions are people offering? Are they reliable in paying out commissions? Are there products on all the top platforms – ClickBank, JVZoo, Amazon, and so on?
Whenever you want to promote something, go through a specific, streamlined process where you check off these tasks:
1. Review the sales copy to learn of what the product promises.
2. Buy it or contact the seller for a review copy.
3. Actively implement and review the product for passing on success or failure details to your readers.
4. Create a bonus for the product if possible, to increase conversions.
5. Find out if there is a way for you to get early bird promo access or any other perks, such as a bump in commissions (for those with a large, successful list).
You want to make sure the other digital sellers have the same values as you in selling ethical, quality products. If they are scared in number, then you may want to consider a different niche.
Next, look at the tangible product opportunities for you as an affiliate. In a niche like Internet Marketing, it is more difficult, but not impossible, to recommend tangible items.
There are things like microphones for podcasting, headphones, software programs – even home office equipment like desks and chairs. But a niche like weight loss offers a whole lot more profit potential, and you need to take time to map out your options.
Let us look at weight loss. You have all sorts of things you can promote tangibly. All you must do is look at Amazon, and when you enter weight loss, you will see items like:
– Exercise equipment
– Books and magazines
– Grocery items
– Video sets…and more
Your goal is to create a file, such as an Excel file, and keep track of what you promote and how well it converted for your list. If your list loves getting emails about supplements but does not convert whenever you email out about books, you need to focus on what works – or find a different way to promote the books.
And guess what? There are tons of cross over potential, too. While it benefits the body, dieting and exercise can take its toll on someone’s mind – when you combine it with everything else going on in their lives.
So, do not forget about other topics that might help – like stress relief, or even financial budgeting, since someone on a diet might need more money to purchase healthier (more expensive) quality foods.
If you want to become a really trusted authority figure, then order some of these products yourself and review them. Show them on video and talk about the pros and cons of them.
Finally, if you are interested in Coaching, or would like to discover how to start an online business from scratch with easy steps to follow and support a strong, friendly community, click the link below.
To your success